A public company in Japan, which is a shareholder in one of the country’s first cryptocurrency exchanges, says it is exploring new uses for its digital assets.
FISCO is planning to introduce the FISCO Coin Lending (FSCC) with the participation of several companies.
The company is also set to launch a platform that will host a number of DApps, all of which will be marketed as tools to add value to the FSCC. DApps are being created by a joint venture that also includes IT company Kuskim and CAICA Technologies. It is hoped that this will lead to the creation of advanced businesses.
Over time, the FSCC will effectively become a management code, which means that those who own the cryptocurrency will have the final say on how to develop and improve DApps.
“While the use of blockchain technology promises to revolutionize economic value, FISCO is committed to contributing to future opportunities driven by advanced digital technologies while developing robust asset markets,” the company said in a recent white paper.
As proof that attention to detail is an integral part of this project, FISCO intends to conduct a comprehensive feasibility study to ensure that DApps are tailored to users’ needs and contain all necessary specifications prior to launch.
Opens its doors in Japan
An example is collaborating with other companies to ensure that public companies can hold virtually all public meetings.
These events are scheduled to take place through video conferencing services, and smart contracts will control the voting process.
It is hoped that over time, a number of public companies will use this technology to provide benefits to their shareholders with a dedicated token as a medium of exchange. They will be able to pay for these services using Japanese Yen or FSCC tokens – when exchanged by the FISCO Group, which provides easy conversions between fiat and cryptocurrencies.
More information from FISCO here
FISCO says that the fact that the FSCC is run by a listed company rather than a shadowy operator helps it stand out in Japan, where only a few cryptocurrencies are traded.
In terms of innovation in cryptocurrency regulation, Japan has been one of the most forward-looking countries in Asia. More than 20 crypto exchanges have now been approved for operation by the country’s Financial Services Agency, and a number of self-regulating organizations also act as watchdogs in the digital asset space. The aforementioned cryptocurrency exchange is one of them, and the FSCC has been approved for inclusion.
According to the company, FSCC is one of the rare tokens that can gain access to the Japanese market and its investors.
FSCC intends to expand internationally in the future – which is why the company plans to list FSCC on several foreign stock exchanges as well as in Japan. He also intends to conduct a global public offering of his business.
FISCO also wants to establish DeFi-like mechanisms within Japan’s current regulatory requirements.
The company says the cryptocurrency industry has struggled to achieve commercialization due to legal and regulatory issues, but it wants to overcome this through transparency and decentralization.
FISCO recognizes that the push for decentralization can cause problems – particularly in Japan – not least in terms of taxation of profits and how they will be distributed to investors.
To ensure the successful and legal implementation of DApps in Japan, a company known as FDAP will act as the owner of these apps, which means they can follow the legal framework that already exists.
FISCO, which has established itself as a financial information company, is developing new solutions that greatly simplify the calculation of the value of cryptocurrencies in an effort to eliminate some of the volatility and speculation that we currently see in the market.